XML 62 R40.htm IDEA: XBRL DOCUMENT v3.7.0.1
Supplemental Oil and Gas Disclosures (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Supplemental Oil and Gas Disclosures (Unaudited)  
Schedule of costs incurred in oil and natural gas property acquisition, exploration and development activities

 

        The following table sets forth costs incurred related to the Company's oil and natural gas activities for the Successor Period, Predecessor Period and years ended December 31, 2015 and 2014 (in thousands):

                                                                                                                                                                                    

 

 

Successor

 

 

 

Predecessor

 

 

 

For the Period
October 21,
2016 through
December 31,
2016

 

 

 

For the Period
January 1,
2016 through
October 20,
2016

 

For the Year
Ended December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

 

 

 

Acquisition costs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved properties

 

$

 

 

 

$

 

$

 

$

 

Unproved properties

 

 

1,430 

 

 

 

 

6,869 

 

 

8,448 

 

 

25,576 

 

Exploration costs

 

 

 

 

 

 

 

 

 

 

672 

 

Development costs

 

 

17,708 

 

 

 

 

121,668 

 

 

274,978 

 

 

525,941 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total costs incurred

 

$

19,138 

 

 

 

$

128,537 

 

$

283,426 

 

$

552,189 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of net capitalized costs

 

        The following table sets forth the capitalized costs related to the Company's oil and natural gas producing activities as of December 31, 2016 and 2015 (in thousands):

                                                                                                                                                                                    

 

 

Successor

 

 

 

Predecessor

 

 

 

December 31, 2016

 

 

 

December 31, 2015

 

 

 

 

 

 

 

 

 

Proved properties

 

$

573,150

 

 

 

$

3,666,403

 

Unproved properties not being amortized

 

 

65,080

 

 

 

 

 

​  

​  

​  

​  

​  

Gross capitalized costs

 

 

638,230

 

 

 

 

3,666,403

 

Less: Accumulated depreciation, depletion, amortization and impairment

 

 

(12,587

)

 

 

 

(3,148,240

)

​  

​  

​  

​  

​  

Net capitalized costs

 

$

625,643

 

 

 

$

518,163

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of estimated quantities of proved oil and natural gas reserves

 

                                                                                                                                                                                    

 

 

Oil
(MBbl)

 

NGL
(MBbl)

 

Gas
(MMcf)

 

Total
(MBoe)

 

2014 (Predecessor)

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

 

54,899

 

 

26,156

 

 

280,198

 

 

127,755

 

Revision of previous estimates

 

 

(11,563

)

 

(4,444

)

 

(41,510

)

 

(22,925

)

Extensions, discoveries and other additions

 

 

30,232

 

 

15,414

 

 

188,336

 

 

77,035

 

Sales of reserves in place

 

 

(10,182

)

 

(2,181

)

 

(24,166

)

 

(16,391

)

Purchases of reserves in place

 

 

 

 

 

 

 

 

 

Production

 

 

(5,144

)

 

(2,417

)

 

(25,013

)

 

(11,730

)

​  

​  

​  

​  

​  

​  

​  

​  

Net proved reserves at December 31, 2014

 

 

58,242

 

 

32,528

 

 

377,845

 

 

153,744

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved developed reserves, December 31, 2014

 

 

27,181

 

 

16,443

 

 

179,972

 

 

73,620

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved undeveloped reserves, December 31, 2014

 

 

31,061

 

 

16,085

 

 

197,873

 

 

80,124

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

2015 (Predecessor)

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

 

58,242

 

 

32,528

 

 

377,845

 

 

153,744

 

Revision of previous estimates

 

 

(30,490

)

 

(15,495

)

 

(178,287

)

 

(75,700

)

Extensions, discoveries and other additions

 

 

2,189

 

 

1,371

 

 

17,026

 

 

6,398

 

Sales of reserves in place

 

 

(2,871

)

 

(843

)

 

(7,834

)

 

(5,019

)

Purchases of reserves in place

 

 

2,437

 

 

1,157

 

 

15,145

 

 

6,118

 

Production

 

 

(4,794

)

 

(2,473

)

 

(28,403

)

 

(12,001

)

​  

​  

​  

​  

​  

​  

​  

​  

Net proved reserves at December 31, 2015

 

 

24,713

 

 

16,245

 

 

195,492

 

 

73,540

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved developed reserves, December 31, 2015

 

 

23,006

 

 

15,376

 

 

184,365

 

 

69,110

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved undeveloped reserves, December 31, 2015

 

 

1,707

 

 

869

 

 

11,127

 

 

4,430

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

2016 (Predecessor)

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

 

24,713

 

 

16,245

 

 

195,492

 

 

73,540

 

Revision of previous estimates

 

 

(3,089

)

 

(459

)

 

(946

)

 

(3,706

)

Extensions, discoveries and other additions

 

 

1,566

 

 

840

 

 

11,052

 

 

4,249

 

Sales of reserves in place

 

 

 

 

 

 

 

 

 

Purchases of reserves in place

 

 

 

 

 

 

 

 

 

Production

 

 

(2,964

)

 

(1,932

)

 

(23,215

)

 

(8,765

)

​  

​  

​  

​  

​  

​  

​  

​  

Net proved reserves at October 20, 2016

 

 

20,226

 

 

14,694

 

 

182,383

 

 

65,318

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved developed reserves, October 20, 2016

 

 

20,226

 

 

14,694

 

 

182,383

 

 

65,318

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved undeveloped reserves, October 20, 2016

 

 

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

2016 (Successor)

 

 

 

 

 

 

 

 

 

 

 

 

 

Proved Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

 

20,226

 

 

14,694

 

 

182,383

 

 

65,318

 

Revision of previous estimates

 

 

19,137

 

 

11,421

 

 

147,688

 

 

55,172

 

Extensions, discoveries and other additions

 

 

22,571

 

 

11,186

 

 

147,236

 

 

58,296

 

Sales of reserves in place

 

 

 

 

 

 

 

 

 

Purchases of reserves in place

 

 

 

 

 

 

 

 

 

Production

 

 

(544

)

 

(429

)

 

(4,948

)

 

(1,798

)

​  

​  

​  

​  

​  

​  

​  

​  

Net proved reserves at December 31, 2016

 

 

61,390

 

 

36,872

 

 

472,359

 

 

176,988

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved developed reserves, December 31, 2016

 

 

19,698

 

 

16,349

 

 

201,454

 

 

69,622

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Proved undeveloped reserves, December 31, 2016

 

 

41,692

 

 

20,523

 

 

270,905

 

 

107,366

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of benchmark prices used to determine estimated proved reserves

 

                                                                                                                                                                                    

 

 

Successor

 

 

 

Predecessor

 

 

 

 

 

 

 

At December 31,

 

 

 

At December 31,
2016

 

 

 

 

 

 

 

2015

 

2014

 

 

 

 

 

Oil and Natural Gas Prices:

 

 

 

 

 

 

 

 

 

 

 

 

Oil (per barrel)

 

$

42.75 

 

 

 

$

50.28 

 

$

94.99 

 

NGL (per barrel)

 

$

15.29 

 

 

 

$

17.44 

 

$

39.17 

 

Natural gas (per million British thermal units)

 

$

2.48 

 

 

 

$

2.59 

 

$

4.35 

 

 

Schedule of standardized measure of discounted future net cash flows

 

        The following table sets forth the standardized measure of discounted future net cash flows from projected production of the Company's oil and natural gas reserves at December 31, 2016, 2015, and 2014 (in thousands):

                                                                                                                                                                                    

 

 

Successor

 

 

 

Predecessor

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

At December 31,
2016

 

 

 

 

 

 

 

2015

 

2014

 

 

 

 

 

Future cash inflows

 

$

4,186,389

 

 

 

$

1,902,184

 

$

8,405,916

 

Future production costs

 

 

(2,078,640

)

 

 

 

(1,024,314

)

 

(2,669,000

)

Future development costs

 

 

(692,533

)

 

 

 

(47,532

)

 

(751,353

)

Future income tax expense

 

 

(106,563

)

 

 

 

 

 

(1,113,908

)

​  

​  

​  

​  

​  

​  

​  

Future net cash flows

 

 

1,308,653

 

 

 

 

830,338

 

 

3,871,655

 

10% annual discount for estimated timing of cash flows

 

 

(778,703

)

 

 

 

(317,519

)

 

(1,998,294

)

​  

​  

​  

​  

​  

​  

​  

Standardized measure of discounted future net cash flows

 

$

529,950

 

 

 

$

512,819

 

$

1,873,361

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of changes in standardized measure of discounted future net cash flows

 

        The following table sets forth the changes in the standardized measure of discounted future net cash flows applicable to proved oil and natural gas reserves for the Successor Period, Predecessor Period and the years ended December 31, 2015 and 2014 (in thousands):

                                                                                                                                                                                    

 

 

Successor

 

 

 

Predecessor

 

 

 

For the Period
October 21, 2016
through
December 31, 2016

 

 

 

For the Period
January 1, 2016
through
October 20, 2016

 

Year Ended December 31,

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

 

 

 

Standardized measure, beginning of period

 

$

349,905

 

 

 

$

512,819

 

$

1,873,361

 

$

1,790,446

 

Net changes in prices and production costs

 

 

78,103

 

 

 

 

(113,313

)

 

(960,245

)

 

(190,256

)

Net changes in future development costs

 

 

2,022

 

 

 

 

175

 

 

57,357

 

 

66,828

 

Sales of oil and natural gas, net

 

 

(27,292

)

 

 

 

(116,043

)

 

(232,630

)

 

(536,362

)

Extensions

 

 

102,087

 

 

 

 

29,871

 

 

38,550

 

 

1,094,606

 

Discoveries

 

 

 

 

 

 

 

 

 

 

 

Purchases of reserves in place

 

 

 

 

 

 

 

 

34,369

 

 

 

Divestiture of reserves

 

 

 

 

 

 

 

 

(77,445

)

 

(390,264

)

Revisions of previous quantity estimates

 

 

102,623

 

 

 

 

(22,194

)

 

(1,174,997

)

 

(205,233

)

Previously estimated development costs incurred

 

 

 

 

 

 

29,975

 

 

198,564

 

 

160,663

 

Accretion of discount

 

 

5,832

 

 

 

 

42,735

 

 

238,639

 

 

206,783

 

Net change in income taxes

 

 

(48,206

)

 

 

 

 

 

513,024

 

 

(230,401

)

Changes in timing, other

 

 

(35,124

)

 

 

 

(14,120

)

 

4,272

 

 

106,551

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

Standardized measure, end of period

 

$

529,950

 

 

 

$

349,905

 

$

512,819

 

$

1,873,361

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​